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<br />" <br /> <br />. <br /> <br />. <br /> <br />in the group is the Martinez reservoir on the San Juan River above <br /> <br />Farmington, New Mexico, <br /> <br />The total cost of such a team of reservoirs and p"wer plants, <br /> <br />including an interconnected transmission system, would be slightly over <br /> <br />one billion dollars at present construction prices, a nd the installed <br /> <br />power capacity at the nine dams would be about 1,700,000 kilowatts with <br /> <br />9 billion kilowatth"lurs produced annually. Power market demands would <br /> <br />influencc to a large extent the schedule of construction of these dams. <br /> <br />Power market surveys by the Federal Power Commission and the <br /> <br />Bureau of Recl~~tion indicate that the total Dower output of all nine <br /> <br />dams will be required in the Upper Basin states alone by 1980. If some <br /> <br />of the Lower Basin demands are met, the 9 billion kilowatt hour annual <br /> <br />production may be needed as early as 20 years from now, <br /> <br />Preliminary cost estimates show that this vast quantity of <br /> <br />power could be produced and transmitted to load centers at all attractive <br /> <br />rate which would include the usual 3 percent interest charge on the <br /> <br />capital costs of p0l1er. Authorization of the dams and appropriation of <br /> <br />the necessary funds for construction would reouire action by the Congress. <br /> <br />Revenue from power, in excess of estiJJla.ted oneration, maintenance and <br /> <br />replacement charges, would be returned to the U. S. Treasury. The <br /> <br />Secretary of Interior would be authorized to account for the anticinated <br /> <br />revenues by setting ~p what is termed the Upper Division Development Account. <br /> <br />Concurrent with the repayment of the power plants and appurtenant features, <br /> <br />~ <br />en the interest component in the revenue >lOuld be credited to the account for <br />I-" <br />~ repayment of remaining features relating to river regulation and assistance <br /> <br />to irrigation projects that are able to qualify as participating prcjects. <br /> <br />6 <br />